Risk premium clouds prospects

“I hate gambling. I do not want it. “There will be no casinos outside of what are existing. I am not granting anything.”   Since the beginning of his presidency just over two years ago, Philippine President Rodrigo Duterte has not minced words when talking about his disdain for gambling. It was only a couple of months ago, he lashed out at the casino sector anew with those stark words. “Online gambling must stop,” were Duterte’s words during his very first cabinet meeting on June 30, 2016 as he vowed to destroy illegal online gambling and electronic gaming parlors that had previously been loosely regulated. Putting action to words, on February 2, 2017 he passed an executive order directing law enforcement agencies to step up the fight against illegal gambling. In January, Duterte ordered state-owned casino regulator, the Philippine Amusement and Gaming Corp. (PAGCOR)  to stop accepting new casino applications to prevent...

Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.